AL SB100

Creates the Board of Medical Scholarship Awards Fund in the State Treasury for granting scholarships or making loans to medical students.

Deposits all monies received by the board from Section 16-47-125, Section 16-47-127, fees, gifts, donations, grants, and bequests into the fund with continuous appropriation.

Authorizes the board to establish fiscal requirements for annual administration expenses, payable from any available funds.

Amendments to Section 16-47-123.1 of the Code of Alabama 1975 are declared to be declaratory of existing law with no substantive changes.

Effective date: October 1, 2024.